Additional Borrowing

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Looking to borrow more? If you have an existing lifetime mortgage with us, you may be able to access further funds. This may be through a drawdown facility or a further advance.

Drawdown

If your lifetime mortgage has a drawdown facility, you get an initial lump sum. Extra funds stay in a reserve facility. You can use this reserve facility whenever you need it. This gives you flexible access to more money over time. To find out how to access your drawdown facility and apply for funds click below.

Drawdown >

Further Advance

Thinking about releasing more money from your property? A further advance could be an option. If you did not release the maximum amount available initially or your home has increased in value you may be able to release further funds via a further advance. You must meet the required terms and conditions and receive advice from a qualified equity release adviser.

Further advance >

Things to consider

Equity release reduces the value of your estate. It may also affect your eligibility for means-tested benefits.
A lifetime mortgage is a loan secured against your home. It's subject to compound interest, meaning the amount you owe can grow quickly.
With a lifetime mortgage, there are usually no monthly repayments. Instead, the loan plus roll-up interest is repaid when the plan ends. This happens upon the death or move into long term care of the last remaining borrower.
A lifetime mortgage may leave you with limited or no equity in your property. This will reduce your financial options in the future.
Drawdowns and Further Advances are not guaranteed. The interest rate of successful applications will be at the prevailing interest rate, which may be higher or lower than the interest rate of the initial advance.